According to the analyst Mike McGlone, a senior strategist of raw materials of Bloomberg Intelligence, the paladium is the raw material to follow, since it will soon leave the gold and the silver behind in the stock market.
If we look at the profitability of gold, silver and paladium so far this year, we can see that they are going very. All glamor has been taken by gold, but few talk about silver and nobody of gold.
According to the analyst, The target price of the paladium is that it reaches its maximum of 2022 of $ 3,400that is, it can bend its value because it is a metal that is worth both for jewelry and for other industries, especially in the automobile sector, where it represents 70% of its demand, and that Russia controls 50% of the production of this metal, so that geopolitical sanctions or risks can make the shortage of paladium in the market.
If we look at the Premium indicators of strength and trend of investment strategieswe can see that The paladium is strong and with a bullish trend in the medium and long term.
The indicator went from being neutral to very strong on June 17, when he traded at $ 1,054, and since then he has risen 18% at current prices.
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